INSURANCE NEWS
Supreme Court Leaves Intact Elite School’s Diversity Policy
A divided US Supreme Court refused to question an admissions policy at a competitive Virginia public high school, turning away contentions that the program was designed to reduce the percentage of Asian-American students. The rebuff is a blow to racial-preference …
California Hillsides Are at Risk of Floods After Days of Downpours
The latest in a series of robust storms is drenching California again with rain and snow, prompting officials to warn residents to stay on high alert for floods as weakened terrain gets further tested. Some hillside communities — including affluent …
New Concerns About NC State University Building Found to Have PCBs
Concerns and controversy have continued to mount over the presence of toxic chemicals, including cancer-linked polychlorinated biphenyls, or PCBs, found in a building at North Carolina State University. The Raleigh News & Observer, Forbes magazine and other news outlets have …
Texas Car Dealership Settles Discrimination Lawsuit for $145K
An Amarillo, Texas-based car dealership will pay $145,000 and furnish other relief to settle an age and disability discrimination lawsuit filed by the U.S. Equal Employment Opportunity Commission (EEOC), the federal agency announced. According to the EEOC’s lawsuit, an employee …
Greek Ship Attacked in Red Sea by Houthis Arrives in Port of Aden With Cargo
The Greek-flagged bulker Sea Champion arrived in the southern Yemeni port of Aden on Tuesday after being attacked in the Red Sea in what appeared to have been a mistaken missile strike by the Houthi militia, sources said. Shipping risks …
President Biden Visits East Palestine, Ohio to Assess Cleanup After Train Derailment
EAST PALESTINE, Ohio (AP) — President Joe Biden on Friday surveyed the federal cleanup in East Palestine, Ohio, more than a year after an explosive fire from a derailed train carrying hazardous chemicals, and saw up close the lingering hostility …
Insurtech Cake Completes $1.3M in Pre-Seed Funding
Cake, an insurtech based in Indianapolis, has announced the completion of a $1.3 million pre-seed funding round led by venture capital company Markd. Additional sponsors included 2ndF, Iridium Bloom LLC, 101 Weston Labs, IIANC, and other industry-specific strategic partners. The …
Turkey Plans Fine for SSR’s Local Unit Over Mine Spill
Turkey plans to fine a unit of SSR Mining Inc. after a landslide at its Copler gold mine and have the company cover the cost of removing millions of tons of waste, three government officials said. Anagold Madencilik, 80%-owned by …
Markets/Coverages: Connecticut Opens Door to Real Estate Insurer Honeycomb
The Connecticut Insurance Department has given Honeycomb Insurance approval to write policies statewide. Honeycomb offers customizable insurance coverage for apartment complexes, condominium associations, and single-family rental dwellings. The insurer promises technology-enabled and streamlined service, underwriting and pricing for commercial insurance …
Germany to Approve Cannabis Bill This Week in Legalization Drive
German lawmakers will approve delayed legislation decriminalizing personal use of cannabis this week, paving the way for it to take effect on April 1, according to Health Minister Karl Lauterbach. The law, set to pass the lower house of parliament …
‘Citizens 2.0’ is 86’d but Other Florida Insurance, Liability Bills Still Alive
A move to revamp the state-backed property insurer of last resort into Florida’s main wind carrier, a plan dubbed “Citizens 2.0,” appears to have died in the Legislature this year. But other insurance-related bills are still alive, and the governor’s …
Markets/Coverages: Vantage Risk Introduces U.S. Primary Casualty Insurance
Vantage Group Holdings Ltd., the Bermuda-based insurer and reinsurer, is offering U.S. primary casualty in addition to its existing Bermuda and U.S. excess casualty products, continuing the company’s expansion of specialty insurance capabilities. Vantage said its new U.S. Primary Casualty …